INCOME TAXES (FY) (Tables)

12 Months Ended

Dec. 31, 2017

Significant Components of Provision for Income Taxes

The approximate amount of significant components of the provision for income taxes for the years ended December 31, 2017 and 2016 are as follows:

	December 31, 2017		December 31, 2016
Dollars in thousands
Current tax provision	$	221	$	34
Deferred tax provision		1,373		843
Provision for income taxes	$	1,594	$	877

Difference Between Statutory Federal Income Tax Rate and Effective Rates

The difference between the provision for income taxes and the amounts computed by applying the statutory federal income tax rate of 34% to income before income taxes is summarized below:

	December 31, 2017			December 31, 2016
Dollars in thousands
Tax computed at the statutory rate	$	679		$	754
Increase (decrease) resulting from:
State income taxes, net of federal tax effect		57			128

Effect of rate revaluation		936			-
Other permanent differences		(78	)		(5	)
Provision for income taxes	$	1,594		$	877

Components of Deferred Taxes

Significant components of deferred taxes at December 31, 2017 and 2016 are as follows:

	December 31, 2017			December 31, 2016
Dollars in thousands
Deferred tax assets relating to:
Allowance for loan losses	$	556		$	628
Stock options		15			23
Amortization of intangibles		1			7
Foreclosed asset basis differences		18			207
Unrealized loss on AFS securities		223			148
SERP liability		521			795
Nonaccrual loan interest		65			156
Net operating/economic loss carryforwards		811			1,984
Other		423			217

Total deferred tax assets	$	2, 633		$	4,165

Deferred tax liabilities relating to:
Prepaid expenses	$	(55	)	$	(124	)
Fixed assets		(326	)		(444	)
Fair value acquisition adjustments, net		(125	)		(291	)
Total deferred tax liabilities		(506	)		(859	)
Net recorded deferred tax asset	$	2,127		$	3,306